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Investment salesNewsVirginia

CRC Acquires 160,830-Square-Foot Retail Center in Richmond, Virginia

by Hayden Spiess

Richmond, Va. — Continental Realty Corp. (CRC) has acquired Gayton Crossing, a 160,830-square-foot retail center located in Richmond. Tenants at the property, which was developed in 1981, include Bank of America, GOLD’S Gym, Goldfish Swim School, Jos. A. Bank, KidStrong, Starbucks Coffee, Virginia ABC and The UPS Store. Kroger shadow anchors the center, which is situated on a 15.6-acre site within 15 miles of the University of Richmond and Virginia Commonwealth University. CRC purchased the property with funds from the Continental Realty Opportunistic Retail Fund I LP (CRORF), a closed-end fund. …

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Vineyard-Towne-Center_Queens-Creek-Ariz
ArizonaDevelopmentNews

Vestar to Break Ground on Phase 2 of Vineyard Towne Center in Metro Phoenix

by Hayden Spiess

Queen Creek, Ariz. — Vestar has announced plans to break ground this month on Phase 2 of construction at Vineyard Towne Center in Queen Creek, roughly 40 miles outside Phoenix. Upon completion, Vineyard Towne Center will comprise 260,000 square feet. Tenants at Phase 2, which is fully leased and scheduled to open in fall 2025, include Target, McDonald’s, Verizon, Petco, Mattress Firm, My Dr. Now, Better Buzz Coffee, Zaxby’s, Ono Hawaiian BBQ and Mountain America Credit Union. Phase 1 of the project includes tenants Keep it Cut Hair Salon, Crown One …

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Grocery-anchoredInvestment salesNew YorkNews

Heidenberg Properties Acquires Shopping Center in Albany, New York for $28 Million

by Hayden Spiess

Albany, N.Y. — An affiliate of Heidenberg Properties has acquired Colonie Center, a 243,395-square-foot retail center in Albany for $28 million. Whole Foods Market anchors the property, which was 58 percent leased at the time of sale. Other tenants at the center include Floor & Decor and Sierra Trading Post. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the undisclosed seller in the transaction and procured the buyer.

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Smalls-Sliders
Company newsFloridaNewsRestaurants

Smalls Sliders Signs Franchise Deals for 12 New Units in Florida

by Hayden Spiess

Atlanta — Atlanta-based fast-casual cheeseburger brand Smalls Sliders has signed two multi-unit franchise deals in the state of Florida. An entity doing business as DPC Smalls Investments, which is led by Doug Cone, will own and operate the 12 new restaurants, known as “Cans.” Locations for the new Cans will include Jacksonville, Tallahassee, St. Augustine, Lake City and Orange Park, with the first unit scheduled to open early next year. 

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LeasingNewsWashington

Barnes & Noble to Open 25,000-Square-Foot Store at Issaquah Commons in Metro Seattle

by Hayden Spiess

Issaquah, Wash. — Barnes & Noble has signed a 25,000-square-foot lease at Issaquah Commons, a retail center located in Issaquah, roughly 15 miles outside Seattle. Scheduled to open this fall, the new store will be situated between Sephora and Chipotle Mexican Grill. The store will include a café and feature a new layout and design. Avison Young manages and leases Issaquah Commons, which totals 373,603 square feet. Other tenants at the property include Safeway, Target, Trader Joe’s, REI, Athleta, WildFin American Grill, Panera Bread, Tutta Bella Neapolitan Pizzeria and Just Poke. 

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Lakeside
DevelopmentMichiganMixed-useNews

Lionheart Capital Plans $1 Billion Lakeside Mall Redevelopment in Sterling Heights, Michigan

by Hayden Spiess

Sterling Heights, Mich. — Lionheart Capital has unveiled plans for the $1 billion mixed-use redevelopment of Lakeside Mall in the Detroit suburb of Sterling Heights. The redevelopment process will begin with the demolition of the enclosed regional mall following its closure on July 1. The new development will be anchored by a mixed-use town center and central park featuring shops, offices, coffee houses, restaurants, an area for community gatherings and events, and a two-story community center with recreational amenities including swimming pools, fitness facilities and libraries.  The project is also set …

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CaliforniaFinanceGeorgiaNews

BWE Arranges $40.2 Million Financing for Four California Properties 

by Hayden Spiess

Columbus, Ohio — Ohio-based BWE has arranged loans totaling $40.2 million for four properties located in California. The deals included a $12.3 million bridge loan for the acquisition and redevelopment of a retail property located in Rancho Palos Verdes. The property, which was 67 percent preleased at the time of financing, is anchored by O’Reilly Auto Parts. Other tenants include Habit Burger, Mattress Firm, Urbane Café and California Fish Grill. Mike Guterman of BWE secured the financing through Calmwater Capital on behalf of the borrower, West Hive Capital.  BWE also secured …

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Investment salesNewsTexas

JLL Brokers Sale of 112,162-Square-Foot Shopping Center in Dallas

by Hayden Spiess

Dallas — JLL has brokered the sale of Muse Shops at Midtown, a 112,162-square-foot shopping center located in Dallas. Built in 1999 and renovated in 2022, the four-building property was 58 percent leased at the time of sale. Tenants at the center include Starbucks Coffee, Land Design, United Real Estate and Natuzzi Editions. Adam Howells, Erin Lazarus, Megan Babovec and Keenan Ryan of JLL represented the undisclosed seller in the transaction. 

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LeasingMixed-useNewsTexas

Four New Retail Tenants Sign Leases at CITYCENTRE in Houston

by Hayden Spiess

Houston — Four new tenants have signed leases at CITYCENTRE, a 47-acre mixed-use property located in Houston. Star Cinema Grill opened at the center last month, in a space formerly occupied by Studio Movie Grill. Additionally, American Threads, Rowan and Southern Tides have signed leases at the property. The concepts will open stores totaling 1,800; 1,000; and 1,500 square feet, respectively. Each of the openings is scheduled for this summer. TriGate Capital is the landlord of the property, which was developed by Midway and is managed by Parkway. 

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Water-Street-Tampa
DevelopmentEntertainmentFloridaMixed-useNews

Strategic Property Partners Unveils Next Phase of $3 Billion Water Street Tampa Development

by Hayden Spiess

Tampa, Fla. — Strategic Property Partners LLC has unveiled the next phase of Water Street Tampa, the company’s $3 billion mixed-use neighborhood underway in downtown Tampa. The next phase will comprise three separate buildings with residential, office and hospitality/entertainment space.   The third building will feature a select-service hotel, parking garage and entertainment uses, including food-and-beverage options and a live music venue. The office complex will also feature ground-floor retail space.  The road and utility infrastructure work for these additions is currently underway and expected to be complete in spring 2025. Last …

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